Custom Cabinetry has one job in process (Job 120) as of June 30, at that time. Its Job cost sheet reports direct materials of $6.900, direct labor of $3,000 and applied overhead of $2,550 Custom Cabinetry applies overhead at the rate of 85% of direct labor coal During July. Job 120 is sold (on account) for $23.000, Job 121 is started and completed, and Job 122 is started and full in process at the end of the month Custom Cabinetry Incurs the following costs during July Suly Product Costs Direct materials Direct labor Overhead applied 300 120 $2,700 3.500 2 Job 122 $6,400 4.ee ? ab: 122 $3,600 2,100 2 Yatal 512,700 9.600 ? 1. Prepare journal entries for the following in July a. Direct materials used in production, b. Direct labor used in production c. Overhead apoiled d. The sale of 120. e. Cost of goods sold for Job 120 2. Compute the July 31 balances of the Work in Process Inventory and the finished Goods Inventory accounts. (Assume there are no jobs in Finished Goods Inventory as of June 30.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries for the above transactions in July Vorbasis